Nexara

Ethiopia commenced power supply trials between Kenya and Tanzania as part of the East Africa Electric Highway Project. This milestone follows the completion of the Ethiopia-Kenya power transmission line, facilitated by an advanced power supply network. The subsequent phase, linking Kenya to Tanzania, has now begun trial operations, marking a step in regional energy cooperation. …

Ethiopia Begins Power Supply Trials from Kenya to Tanzania Read More »

The House of People’s Representatives, during its 11th regular session, reviewed and approved the National Bank Proclamation and the Banking Proclamation, paving the way for foreign banks to operate in Ethiopia. National Bank Governor Mamo Mihretu emphasized that the National Bank Proclamation aims to stabilize the Ethiopian economy, ensure price stability, and maintain the soundness …

Ethiopia Approves Banking Proclamations, Opens Door for Foreign Banks Read More »

Ethiopia’s Parliament has approved a new banking proclamation that paves the way for foreign banks to enter the country’s financial sector. The legislation permits foreign banks to purchase shares in local banks and, with case-by-case approval from the National Bank of Ethiopia, fully acquire them. This marks a major step in opening up Ethiopia’s banking …

Parliament Passes Landmark Proclamation Allowing Foreign Banks in Ethiopia Read More »

During its 11th regular session held today, the House of People’s Representatives of Ethiopia (HoPR) approved the National Bank of Ethiopia (NBE) Proclamation and Banking Business Proclamation. The review and deliberation on these draft legislations was held in the presence of the central bank governor Mr. Mamo Mihretu. On the occasion, the NBE proclamation has been …

Legislators approve proclamations of NBE and banking business Read More »

The Oda Solar Power Project, a 370-kilowatt solar energy facility built at Birr 195 million, was officially inaugurated in Medewelabu Woreda, East Borena Zone, Oromia Regional State. Speaking at the inauguration, State Minister of Water and Energy, Dr. Sultan Wali, highlighted that the project will provide electricity to approximately 15,000 rural residents. He noted that …

Ethiopia: Oda Solar Power Project Inaugurated in Oromia Read More »

The Ministry of Innovation and Technology (MoIT) announced that the Digital Ethiopia 2025 Strategy has led to a dramatic increase in internet users, surpassing 42 million from just 17 million at its launch. State Minister Yishurun Alemayehu highlighted that key reforms, such as the partial privatization of Ethio Telecom and the liberalization of the telecom …

Digital Ethiopia 2025 Strategy Boosts Internet Users to Over 42 Million Read More »

Jemal Beker, Ambassador Extraordinary and Plenipotentiary of Ethiopia to Turkmenistan with residence in Islamabad, visited the Chamber of Commerce & Industry of Turkmenistan and held a very engaging and substantive discussion with its senior leadership. Mergen Gurdov, Chairman of the Chamber of Commerce & Industry of Turkmenistan, welcomed the Ambassador to the Chamber and opened …

Turkmenistan business community eyes Ethiopian Market  Read More »

In a landmark development for Africa’s financial landscape, the Ethiopian Securities Exchange (ESX) and the Bourse de Casablanca have entered into a transformative strategic cooperation agreement. This partnership aims to merge the strengths of one of Africa’s newest financial powerhouses with the continent’s second-largest exchange, thereby establishing a framework for financial growth, innovation, and regional …

Ethiopian Securities Exchange & Bourse de Casablanca sign strategic cooperation agreement Read More »

The Ethiopian Agricultural Businesses Corporation (EABC) has announced that a ship carrying 550,000 quintals of DAP soil fertilizer for the 2024/25 cultivation season has arrived at the port of Djibouti. In a post on its social media page, EABC reported that four more ships carrying a total of 2.4 million quintals of DAP will soon …

A ship carrying 550,000 soil fertilizer docks at Djibouti port– Corporation Read More »

The Ethiopian Securities Exchange (ESX), a major advancement in the nation’s financial framework, is scheduled to officially launch in early January. This initiative represents a pivotal step in Ethiopia’s national economic reform efforts to strengthen collaboration between the public and private sectors. Tilahun Esmael Kassahun, CEO of the Ethiopian Securities Exchange, emphasized that the ESX …

Ethiopian Securities Exchange Set to Launch in January Read More »